A new report obtained Wednesday by the WBAL-TV 11 News I-Team shows the city-owned Hilton Hotel in downtown Baltimore had an even worse year in 2014 than the year before and it was in spite of a big year in tourism to the city.

The hotel has yet to turn a profit seven years after it opened and taxpayers are ultimately responsible.

The city was full of big, splashy events in Baltimore. The September Star-Spangled Spectacular weekend drew nearly 1.5 million visitors.

In October, the Baltimore Orioles played championship baseball to big crowds. Not far away, the new Horseshoe Casino opened in late August and football was an extra draw in 2014 with Ohio State meeting Navy at M&T Bank Stadium over Labor Day.

However, despite all the draw for tourists, 2014 was a losing year for the hotel.

"It's a difficult business," Jeff Pillas said.

Pillas is the city official who oversees the hotel. He took questions Wednesday with the release of the latest report on the hotel's finances.

Accounting for tax purposes explains some of the loss, but the hotel's business in 2014 was off too, despite that big year in tourism.

The hotel took in $61.7 million in room, food and parking revenue in 2014, which is down $2.1 million from $63.9 million it took in in 2013.

Room revenue was off in 2014 despite all those tourists. The new report shows how far the hotel is falling short of expectations. Documents from 2003 show the city projected room revenues of $42 million by 2014. In fact, room revenues last year were $33.7 million.

The hotel is supposed to provide additional money to the city through a hotel tax it collects, but because its revenues aren't better, the city had to use tax money to help pay its debt. The city had to issue bonds to investors to pay for the hotel's construction.

Will the hotel finally make money in 2015? It has yet to turn a profit.

"I actually think it will be profitable this year," Pillas said.

The hotel turning a profit would be especially welcomed news to former Maryland Gov. Martin O'Malley who pushed the deal through City Council despite rowdy opposition. O’Malley is now touting his record as mayor in his possible run for president. The hotel and its performance are part of it.